Oakland Corporation Reported a Net Operating Loss of $500,000 in 20X3

Oakland Corporation reported a net operating loss of $500,000 in 20X3 and elected to carry the loss forward to 20X4. Not included in the computation was a disallowed meals and entertainment expense of $20,000, tax-exempt income of $10,000, and deferred gain on a current year transaction treated as an installment sale of $250,000. The corporation's current earnings and profits for 20X3 would be:

A) ($500,000) .
B) ($720,000) .
C) ($510,000) .
D) ($260,000) .